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The Ethereum market has recently shown a complex situation, with significant divergence in the behavior of institutional and individual investors. On one hand, some large investment institutions are still actively buying. Data shows that in August, companies focused on Ethereum investments have invested about $3.6 billion to purchase 795,000 ETH, with BitMine being particularly active.
However, there are signs of a large-scale sell-off in the market. Several early participants and institutional investors, such as Longling Capital, are selling large amounts of ETH, totaling hundreds of millions of dollars. This behavior may reflect that some investors believe the current price has reached a peak and are choosing to take profits.
At the same time, the Ethereum ETF market is also experiencing a trend of capital outflow. The US ETH ETF saw nearly $200 million in net outflows in just one day, and even BlackRock, which had previously maintained buying, experienced outflows of over $86 million. This indicates that institutional funds may have a tendency to withdraw in the short term.
In terms of price, Ethereum has dropped below the $4200 mark, with a daily decline of over 3%. Market analysts generally believe that $4700 is a strong resistance level, where historical pullbacks have occurred multiple times. Currently, the market may show signs of overheating.
In addition, approximately 910,000 ETH (worth nearly 4 billion USD) are waiting to exit staking, which poses potential pressure on the price. Some experts predict that this may lead to a further decline in the price of ETH by 5-7%.
Technical analysis indicates that $4180 is a key support level. If this level can be maintained, the current pullback may still be considered a "healthy" correction, and the possibility of breaking new highs in the future still exists. However, if this support level is breached, the market may face a larger adjustment.
Overall, the Ethereum market is at a critical turning point, and investors need to closely monitor price trends and changes in market sentiment.